Many companies seek to make the UAE and specifically Dubai their home. With so many wonderful places underway in which to house these specific businesses, it is the pleasure of Dubai to provide for these companies and offer them safe haven, often in Free Zones.
Horwath Mak is available to assist any company which requires a facilitator to help them to begin a business in Dubai. The many different methods required and the many different laws may make it necessary for you to have a facilitator or a advocate to help you to accomplish the business formation that you seek. The laws have changed a great deal in just the last 20 or 30 years alone for Dubai and other areas of the UAE.
Prior to 1984, every Emirate that existed had its own laws and its own procedures when it came to creation of business or foreign business interests. The Emirates, Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah, did not have a single set of guidelines that must be followed. Each took care of their own and a single federal law did not exist to help companies to determine what they needed to do to do business in the UAE. Each of these Emirates had their own methods and each Emirate followed those, sometimes to the chagrin of the business owners.
1984 saw the advent of a Federal Law No.8 of 1984, and later, the amendment by Federal Law No.13 of 1988 â€“ the â€˜Commercial Companies Lawâ€™ and its by-laws were issued.
These laws and statutes make it conditional that nationals must wholly own the company or that they must own at least 51 percent of the company. The residual 49 percent may be owned by foreign companies or individuals. The law offers that commercial companies in the UAE must also follow specific guidelines and that the companies must take the following forms